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 Strategies & Market Trends | E-Wave and TA Workspace

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From: mchjc4/1/2012 1:29:48 PM
2 Recommendations   of 203099
 
SPX EW......Structure of advance from early Mar still ambiguous, and, at this point, believe....

EITHER....5/3 peaked on Mar 19, with corrective 4 now underway and has further downside ahead....

OR.....alternatively, a terminal vth of 5 of 3 is now being launched toward new highs..

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From: mchjc4/1/2012 2:33:57 PM
3 Recommendations   of 203099
 
SPX TA...Reviewing the past couple of years...Major features:

  • May-Sep 2010...Completed iH&S measuring to1275..
  • Nov 2010....Completed bullish pennant measuring to 1296..
  • Nov 2010-Feb 2012...Established a negative RSI divergence, indicating an impending bearish reversal..
  • Mar-Aug 2011..Completed H&S measuring to 1157..
  • Aug-Oct 2011...Completed bullish falling wedge measuring to 1347..
  • Aug-Oct 2011..Established a positive RSI divergence, indicating an impending bullish reversal..,
  • Oct-Dec 2011..Completed bullish triangle measuring to 1383..
  • Feb 2012...Broke above major DT line from 2007 and 2011 highs..
  • Feb-Mar 2012...Completed bullish flag measuring to 1425..
  • Feb-Mar 2012..Established a negative RSI divergence, indicating an impending bearish reversal.

(In addition there were several major MA crossovers I did not mention...since MAs are not considered relevant in Classic TA..)

Currently appears to be in the process of forming a bullish pennant..but that may be overridden by the RSI divergence...

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From: mchjc4/1/2012 2:58:37 PM
   of 203099
 
SPX TA.....PS

Should have mentioned that chart in last post showed 2 major R areas....derived from a longer term chart, just below the 2007 highs...at around 1410 and 1490..

Also, would note that RSI is not considered in Classic TA.....Nor is any other price derivative..

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To: mchjc who wrote (197126)4/1/2012 7:39:53 PM
From: xun   of 203099
 
Henry,

Thanks for the update. Can you take a TA look at VMED?

TIA,
xun

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To: mchjc who wrote (197125)4/1/2012 9:52:01 PM
From: CaptainBoom   of 203099
 
Thanks for the big picture recap Henry. It's helpful.

I had ordered my copy of Edwards & McGee just prior to the fire, and it arrived within days of same. I need to start reading it now that I'm home.

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To: xun who wrote (197127)4/2/2012 9:52:31 AM
From: mchjc1 Recommendation   of 203099
 
VMED.....I'd watch now for a break above the DT line....with expanding volume..


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To: mchjc who wrote (197124)4/2/2012 10:39:54 AM
From: hawkeyefan   of 203099
 
From the low on the SPX of a week ago, it looks like five waves up into last Tuesday. Then 5 waves down into Thursday's low. Now on a 60 minute chart one might say there has been five waves up.

This can't be, can it? You can't have three five wave moves in a row. Up, down, up ???

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To: hawkeyefan who wrote (197130)4/2/2012 10:49:32 AM
From: mchjc   of 203099
 
That's one of the problems of trying to count wiggles...e.g. that could have been only 3 waves up into Tues ??????

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To: mchjc who wrote (197131)4/2/2012 10:51:34 AM
From: hawkeyefan   of 203099
 
Thanks. That is the only logical assumption that the wave down into Tuesday was three waves. It is just a little iffy. But thanks, I wanted to hear it from you that it could very well be three waves.

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To: mchjc who wrote (197131)4/2/2012 11:52:13 AM
From: hawkeyefan   of 203099
 
I see I commented incorrectly. I said down into Tuesday when the SPX went up actually. The month is only two days old and I have already made a mistake.

I am still not sure if that move was three or five waves. And then the move down after that, I don't know if that was three or five waves.

I see AAPL is moving up again.

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